Sanuwave Health (NASDAQ:SNWV) Downgraded by Zacks Research to “Strong Sell”

Sanuwave Health (NASDAQ:SNWV) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other brokerages also recently issued reports on SNWV. Wall Street Zen downgraded shares of Sanuwave Health from a “buy” rating to a “hold” rating in a research note on Saturday. Roth Mkm reaffirmed a “buy” rating and issued a $47.00 target price (down from $53.00) on shares of Sanuwave Health in a research note on Monday. Finally, Weiss Ratings upgraded Sanuwave Health from a “sell (d-)” rating to a “hold (c-)” rating in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $51.00.

Sanuwave Health Trading Down 0.6%

Shares of SNWV stock opened at $17.29 on Monday. The firm has a 50-day moving average price of $23.63 and a 200 day moving average price of $29.06. Sanuwave Health has a twelve month low of $16.27 and a twelve month high of $46.58. The company has a market capitalization of $148.52 million, a price-to-earnings ratio of -108.06 and a beta of 1.32. The company has a current ratio of 1.38, a quick ratio of 1.05 and a debt-to-equity ratio of 10.08.

Sanuwave Health (NASDAQ:SNWV) last released its earnings results on Thursday, March 26th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.14). Sanuwave Health had a net margin of 26.64% and a negative return on equity of 141.56%. The firm had revenue of $13.09 million during the quarter, compared to analysts’ expectations of $13.23 million.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Stonebridge Wealth Management LLC purchased a new stake in Sanuwave Health in the second quarter valued at approximately $1,696,000. CenterBook Partners LP raised its stake in Sanuwave Health by 528.7% during the third quarter. CenterBook Partners LP now owns 87,947 shares of the company’s stock worth $3,296,000 after purchasing an additional 73,959 shares during the period. Rice Hall James & Associates LLC purchased a new position in Sanuwave Health during the third quarter worth approximately $1,023,000. Farther Finance Advisors LLC acquired a new position in shares of Sanuwave Health in the 3rd quarter valued at $57,000. Finally, Russell Investments Group Ltd. acquired a new position in shares of Sanuwave Health in the 3rd quarter valued at $67,000. Institutional investors and hedge funds own 42.53% of the company’s stock.

Sanuwave Health Company Profile

Sanuwave Health, Inc is a medical technology company specializing in the development and commercialization of non-invasive acoustic wave therapies designed to stimulate tissue regeneration and accelerate healing. The company’s proprietary Extracorporeal Pulse Activated Technology (EPAT) delivers focused acoustic pressure waves to injured or chronic wound sites, activating the body’s natural repair mechanisms. Sanuwave’s primary therapeutic areas include advanced wound care for diabetic and venous ulcers, as well as orthopedic and musculoskeletal conditions.

The company’s lead product, the dermaPACE® system, holds clearance from the U.S.